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HARTFORD, Conn./PHOENIX, Arizona (Reuters) - Two top Federal Reserve officials said on Tuesday they expected the U.S. central bank to reduce its stimulus at a steady pace, with the lone official to dissent against the Fed's decision to trim its bond buying saying he was comfortable with the approach.

WASHINGTON (January 7, 2014) &ndash; New mortgage lending rules to protect consumers from risky loan products will take effect this Friday, and Realtors&reg; will be on the front lines as homebuyers access safer mortgages that meet strong underwriting standards, said Consumer Financial Protection Bureau Director Richard Cordray at an event held today by the National Association of Realtors&reg;. Cordray delivered prepared remarks about the historic consumer protections his agency will implement at the end of the week. &ldquo;The Ability-to-Repay rule is straightforward. It puts... Read More

Treasuries Gain for First Week of 2014 After Yield Passes 3% Bloomberg Treasuries posted a gain for the first week of 2014 as 10-year yields at the highest level in more than two years attracted investors. U.S. government securities gained yesterday as Federal Reserve Bank of Boston President Eric Rosengren said the central&nbsp; ...

WASHINGTON (MarketWatch) - The Federal Reserve will likely continue to taper and eventually eliminate its bond purchases this year assuming the economy picks up as expected, said John Williams, president of the San Francisco Fed, on Tuesday. Ending the asset purchases "will be an important first step towards eventually bringing monetary policy back to a more normal setting," Williams said in a speech to a bankers' convention in Phoenix, Ariz. Williams quickly cautioned that these policy steps depend on prevailing economic conditions rather than on some fixed date on the calendar. And he stressed the Fed was not near hiking rates. "We starting to ease off the gas but we're nowhere near hitting the brakes yet," he said. Williams was fairly optimistic about the outlook, describing "newfound momentum" in the economy and forecasting a 3% growth rate in 2014 and 2015. Inflation seems to have "finally bottomed out" and should begin to slowly creep higher towards the Fed's 2% target, he added. "We're still not where the economy should be, but we're well on the road to recovery, and I see things getting better in the year ahead," Williams said.

NEW YORK (MarketWatch) -- The Treasury Department sold $30 billion in 3-year notes Tuesday at a yield of 0.799%. Bidders offered to buy 3.25 times the amount of debt sold, compared to an average of 3.32 times at the last six sales. Indirect bidders, a group that includes foreign central banks, bought 28.0%, versus 36.0% in recent sales. Direct bidders, which include domestic money managers, purchased another 22.6%, versus an average of 16.4%. The broader bond market remained lower after the auction. Yields on 10-year notes , which move inversely to prices, fell 1 basis point on the day to 2.953%.

Rosengren Signals Support for Taper Strategy After FOMC Dissent Bloomberg Federal Reserve Bank of Boston President Eric Rosengren, the only dissenter against a Fed decision to taper bond buying, said he is now comfortable with the strategy to gradually cut monthly bond purchases in the future. "I preferred to wait before beginning&nbsp; ...

Gallup's Economic Confidence Index improved to -19 in December from -25 in November, but is still below October 2012 through August 2013 levels. Economic confidence rose across income and partisan groups.

In a forum today at the American Economic Association's annual meeting in Philadelphia, Federal Reserve Bank of Boston President Eric Rosengren noted the diversity of views that flourish within the Federal Reserve. He spoke alongside fellow Reserve Bank Presidents from the New York, Minneapolis, and Philadelphia Reserve Banks, on a panel moderated by Stanley Fischer, Distinguished Fellow at the Council on Foreign Relations.

Richard J. Andreano, Jr., The CFPB has announced that on January 10, 2014, the date on which most of its new mortgage rules take effect, it will host an event entitled "Protecting homeowners: New tools for empowering consumers and advocates." The event, which will take place in Phoenix and be viewable on the CFPB&#8217;s website, is described as &#8220;an... More &#62;

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